Portugal Economic Sentiment June 2019

Portugal

Portugal: Consumer confidence improves in June, along with economic sentiment

June 27, 2019

Consumers turned slightly more optimistic in June, with the consumer confidence index rising to minus 8.4 points from minus 9.0 points in May. A markedly less pessimistic outlook on the general economic situation in the next 12 months drove the improved reading. Households were also marginally more upbeat about their personal finances in the past year. On the downside, respondents were slightly more downbeat regarding their personal financial situation in the next 12 months and also showed less willingness to make major purchases over the coming year.

Meanwhile, the overall economic climate indicator edged up to 2.4 points in June from 2.3 points in May. Business sentiment rose in the manufacturing sector on more upbeat outlooks on demand and production, in the construction and public works sector on improved employment prospects, and in the services sector on more favorable business conditions in the past three months. Meanwhile, confidence stabilized in the trade sector.

FocusEconomics panelists expect private consumption to grow 2.1% in 2019, which is down 0.1 percentage points from last month’s forecast, and 1.5% in 2020. Panelists expect fixed investment to increase 5.3% in 2019, which is up 1.6 percentage points from last month’s forecast, and 3.7% in 2020.


Author:, Economist

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Portugal Economic Sentiment June 2019 0

Note: Consumer Confidence and Economic Climate indicators.
Source: Statistics Portugal (INE).


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